Troubled Condition definition

Troubled Condition has the meaning given to such term under 12 C.F.R. § 303.101(c) (Federal Deposit Insurance Corporation), 12 C.F.R. § 225.71(d) (Board of Governors of the Federal Reserve System), 12 C.F.R. § 5.51(c)(7) (Office of the Comptroller of the Currency), or 12 C.F.R. § 700.2 (National Credit Union Administration), as applicable based on the Recipient’s Appropriate Federal Banking Agency.
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Examples of Troubled Condition in a sentence

  • Federally insured depository institutions, federally insured credit unions, and Farm Credit System institutions (other than the Federal Agricultural Mortgage Corporation) are eligible to participate in the Paycheck Protection Program unless they currently are designated in Troubled Condition by their primary federal regulator or are subject to a formal enforcement action by their primary federal regulator that addresses unsafe or unsound lending practices.

  • All federally insured depository institutions, federally insured credit unions, and Farm Credit System regulated agricultural lenders (other than the Federal Agricultural Mortgage Corporation) are eligible to participate in the Paycheck Protection Program unless they currently are designated in Troubled Condition by their primary federal regulator or are subject to a formal enforcement action by their primary federal regulator that addresses unsafe or unsound lending practices.

  • To the extent any such rights or payments are restricted or disallowed solely due to the Company’s or the Bank’s status as being in Troubled Condition, such rights shall be deferred but not waived, and the Company shall be obliged to reinstatement and payment of such deferred rights at the earliest time permitted by applicable law and regulation, including upon receipt of required regulatory approvals,, or when the Company and the bank are no longer deemed to be in Troubled Condition .